I think modularity is a good thing. You know how you can move Chute Release from rocket to rocket, instead of "building it in" to each rocket? And you can loan it to someone, or add it to a rocket you've already been flying for a year? As opposed to building a sled, screwing down an altimeter, running wires through bulkheads, and "installing" all that stuff in a way that takes some time and effort to share among rockets. Modularity is when you can take a part from one rocket and easily move it to another. Or replace a broken part. Or upgrade a part.
I think everything about a rocket should be as modular as possible, including fins and recovery equipment.
I think you should be able to build a booster section, with replaceable fins and swap-able engine adapters.
And I think there should be something called a recovery section that should be movable from rocket to rocket. And that recovery section would include all the electronics that it requires to operate. So, for instance, you could have a 2.56" diameter recovery section that you could just move from rocket to rocket. If you had a 38mm booster section, you could use an a 38mm-2.56" transition section, and the rocket would look like an Honest John / Estes Ventris. So you'd take a booster section, add a recovery section, add a nosecone (snap on, screw on, fasten shock cords). You'd need to weigh and balance your final configuration, but a simple app could check your stability.
And I think if you break something (or want to upgrade something), you should be able to just add that to existing rockets.
If you wanted to add two recovery sections to a rocket for some reason, that would be easy. Or three.
The recovery section could include camera bay for key chain cameras. And while it's at it, the recovery section (which has to have a built in altimeter to work) could also collect data and wirelessly connect to your smart phone. A *really* good recovery section would also include built-in wireless tracking so that you could locate it.
And though it all sounds super fancy, I think it would be much more reliable and safe than how we do it today. We have the technology!